FinCEN Warns: Don't Forget to File the FBAR!

The Financial Crimes Enforcement Network ("FinCEN") reminded U.S. persons, and those with signatory authority over foreign financial accounts the aggregate value of which exceeds $10,000 at any time during a calendar year, to file their required reports on Foreign Bank and Financial Accounts (commonly known as "FBARs"). FinCEN requires that FBARs be filed by June 30, 2016.

Guidance for completing the FBAR is provided by the IRS.